Yandex Sells Russian Operations for $5.2 Billion

The sale marks a significant shift for 'Russia's Google,' exiting its home market amid geopolitical tensions and sanctions.

Yandex, often referred to as 'Russia's Google,' has sold its Russian operations to a consortium of Russian investors for $5.2 billion, a significant discount from its market value.
The sale marks Yandex's complete exit from Russia, transferring control of its dominant search engine and other major services to Russian ownership.
The deal was influenced by the geopolitical landscape, particularly Russia's invasion of Ukraine, leading to sanctions and operational challenges for Yandex.
Yandex's co-founder, Arkady Volozh, had previously condemned Russia's invasion of Ukraine and faced EU sanctions, highlighting the company's complex position in the conflict.
Following the sale, Yandex NV plans to focus on its remaining international businesses, including AI and self-driving technology, under new branding and ownership.